Let the markets decide the fate of bitcoin

in #bitcoin7 years ago

Nothing is as it seems. Always.
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Markets have their own logic and language. They are a tool for better communication between different systems. Better communication means better conflict resolution.

Markets are about conflict resolution. Central planning is about creating conflict (aka "problem-reaction-solution" scheme).

Ask yourself: What is the main justification for centralized power?

Satoshi was not pro decentralization. He was pro free choice. As soon/long as each individual is free to choose their own "medicine" we create a society of free men.

"Let the free market decide" could have been the game theoretical title of the Bitcoin white paper.

In contrast to Satoshi's vision. Bitcoin Core went for decentralized limited choice - hence against the market. Propaganda costs enormous sums and will always fail in the long run. It even doesn't work, when you exterminate your fellow human enemy. As doubt can rise with every human being at any time. Censorship comes to the rescue.

We didn't get a real chance to decide about block size within the Bitcoin Core project. Still we've reached a point, where markets will define Bitcoin as a whole.

That's exactly what I personally wanted. And I'd like to call that a win for the "let the market decide" fraction. Satoshi lead the way. We follow thru.

Everything else is central banking 2.0. No wonder banks are interested in the "Block-the-stream" scheme. I didn't sign up for that. And I will opt-out as soon as possible.

I look forward to the day, that I can exercise my rights as investor. I'll be able to express my (best) understanding (as of now) of what makes Bitcoin work in the long run - hence most valuable. Bitcoin is a marathon. It's not about the next 5 or 10 years.

To some It might seem, that the supporters of Satoshis's original plans have lost big time. That's only half the truth. Bitcoin was always about free choice. It opened the way to opt-out from the financial central banking cabal. Now that we have a new cabal of former cypherpunks it's merely the markets free choice to opt-out again. Early opt-outers are the ones to gain the most. Early adoption is more about technical development. In economics the dynamic of opting-out is more interesting.

From now on I'll call myself an early opt-outer as I'm more interested in the social economics of Bitcoin, than the technical possibilities.

if a system is not increasing the degrees of freedom for each and every individual it will not persist in the long run (market price will go down).

Without free choice there is no market. And without a market their is no free choice.

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@bitbizke I like it.... Without free choice there is no market. And without a market their is no free choice.

We should let the markets decide their own fate...

agreee
im upvoted you and followed you

Thanks, Will follow you too

I like your post. Thanks for the work.

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